Financials

Shimadzu: FYE Mar 2026 and ten years of results (51 metrics)

FYE Mar 2026 · Revenue¥561bnYoY +4.0%

FYE Mar 2026 · Operating profit¥74bnYoY +2.8%

FYE Mar 2026 · Net profit¥60bnYoY +12.5%

FYE Mar 2026 · Equity ratio76.6%YoY +2.5pp

FYE Mar 2026 · Group employees14,649YoY +168

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥342bn	n/a	¥37bn	n/a	10.8%	¥26bn	Ueda Teruhisa	—
FYE Mar 2018Consolidated	¥377bn	+9.9%	¥43bn	+15.5%	11.4%	¥30bn	Ueda Teruhisa	—
FYE Mar 2019Consolidated	¥391bn	+3.9%	¥44bn	+3.9%	11.4%	¥33bn	Ueda Teruhisa	—
FYE Mar 2020Consolidated	¥385bn	−1.5%	¥42bn	−5.9%	10.9%	¥32bn	Ueda Teruhisa	—
FYE Mar 2021Consolidated	¥393bn	+2.1%	¥50bn	+18.9%	12.6%	¥36bn	Ueda Teruhisa	—
FYE Mar 2022Consolidated	¥428bn	+8.8%	¥64bn	+28.3%	14.9%	¥47bn	Ueda Teruhisa	—
FYE Mar 2023Consolidated	¥482bn	+12.6%	¥68bn	+6.9%	14.1%	¥52bn	Ueda Teruhisa	Moves to the TSE Prime Market; acquires Nissui Pharmaceutical
FYE Mar 2024Consolidated	¥512bn	+6.1%	¥73bn	+6.6%	14.2%	¥57bn	Yamamoto Yasunori	Shimadzu Tokyo Innovation Plaza opens
FYE Mar 2025Consolidated	¥539bn	+5.3%	¥72bn	−1.4%	13.3%	¥54bn	Yamamoto Yasunori	Acquires California X-ray Imaging Service (US)
FYE Mar 2026Consolidated	¥561bn	+4.0%	¥74bn	+2.8%	13.1%	¥60bn	Yamamoto Yasunori	150 years since founding

How it compares

Keyence¥1.17tnFY2025Operating margin 51.0%Yokogawa Electric¥605bnFY2025Operating margin 13.6%

Shimadzu¥561bnFY2025Operating margin 13.1%

Horiba¥333bnFY2025Operating margin 15.9%Azbil¥299bnFY2025Operating margin 15.8%JEOL¥179bnFY2025Operating margin 14.5%

Furuno Electric¥141bnFY2025Operating margin 11.6%

Anritsu¥117bnFY2025Operating margin 12.6%

Rigaku Holdings Corporation¥94bnFY2025Operating margin 17.7%

Income statement Revenue, costs, each level of profit and the margins they leave

Where the revenue goes

¥ bn

Cost of sales SG&A Operating profit

Margins

Gross margin Operating margin Ordinary margin Net margin

Revenue net sales, operating revenue

FYE Mar 2026 ¥561bn

CAGR · 10 yrs +5.6%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	342	n/a	Cons. · Japanese GAAP
FYE Mar 2018	377	+9.9%	Cons. · Japanese GAAP
FYE Mar 2019	391	+3.9%	Cons. · Japanese GAAP
FYE Mar 2020	385	−1.5%	Cons. · Japanese GAAP
FYE Mar 2021	393	+2.1%	Cons. · Japanese GAAP
FYE Mar 2022	428	+8.8%	Cons. · Japanese GAAP
FYE Mar 2023	482	+12.6%	Cons. · Japanese GAAP
FYE Mar 2024	512	+6.1%	Cons. · Japanese GAAP
FYE Mar 2025	539	+5.3%	Cons. · Japanese GAAP
FYE Mar 2026	561	+4.0%	Cons. · Japanese GAAP

Definition: Everything the company took in from its own business
Formula: Revenue line of the income statement
Source: Securities report (XBRL)

Cost of sales

FYE Mar 2026 ¥311bn

CAGR · 10 yrs +4.7%

Fiscal year	Cost of sales ¥ bn	YoY	Basis
FYE Mar 2017	206	n/a	Cons. · Japanese GAAP
FYE Mar 2018	227	+10.0%	Cons. · Japanese GAAP
FYE Mar 2019	234	+3.2%	Cons. · Japanese GAAP
FYE Mar 2020	233	−0.4%	Cons. · Japanese GAAP
FYE Mar 2021	237	+1.8%	Cons. · Japanese GAAP
FYE Mar 2022	250	+5.2%	Cons. · Japanese GAAP
FYE Mar 2023	281	+12.7%	Cons. · Japanese GAAP
FYE Mar 2024	291	+3.5%	Cons. · Japanese GAAP
FYE Mar 2025	305	+4.7%	Cons. · Japanese GAAP
FYE Mar 2026	311	+2.0%	Cons. · Japanese GAAP

Definition: The cost of what was sold
Formula: Cost of sales line of the income statement
Source: Securities report (XBRL)

Gross profit

FYE Mar 2026 ¥250bn

CAGR · 10 yrs +7.0%

Fiscal year	Gross profit ¥ bn	YoY	Basis
FYE Mar 2017	136	n/a	Cons. · Japanese GAAP
FYE Mar 2018	150	+9.8%	Cons. · Japanese GAAP
FYE Mar 2019	157	+4.9%	Cons. · Japanese GAAP
FYE Mar 2020	152	−3.0%	Cons. · Japanese GAAP
FYE Mar 2021	156	+2.5%	Cons. · Japanese GAAP
FYE Mar 2022	179	+14.4%	Cons. · Japanese GAAP
FYE Mar 2023	201	+12.5%	Cons. · Japanese GAAP
FYE Mar 2024	221	+9.9%	Cons. · Japanese GAAP
FYE Mar 2025	234	+6.2%	Cons. · Japanese GAAP
FYE Mar 2026	250	+6.7%	Cons. · Japanese GAAP

Definition: What the product or service itself earns
Formula: Revenue − cost of sales
Source: Securities report (XBRL)

SG&A selling, general and administrative expenses

FYE Mar 2026 ¥176bn

CAGR · 10 yrs +6.6%

Fiscal year	SG&A ¥ bn	YoY	Basis
FYE Mar 2017	99.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	107	+7.7%	Cons. · Japanese GAAP
FYE Mar 2019	113	+5.3%	Cons. · Japanese GAAP
FYE Mar 2020	111	−1.9%	Cons. · Japanese GAAP
FYE Mar 2021	106	−3.7%	Cons. · Japanese GAAP
FYE Mar 2022	115	+7.9%	Cons. · Japanese GAAP
FYE Mar 2023	133	+15.6%	Cons. · Japanese GAAP
FYE Mar 2024	148	+11.6%	Cons. · Japanese GAAP
FYE Mar 2025	163	+9.9%	Cons. · Japanese GAAP
FYE Mar 2026	176	+8.4%	Cons. · Japanese GAAP

Definition: The cost of selling and of running the company
Formula: SG&A line of the income statement
Source: Securities report (XBRL)

Operating profit

FYE Mar 2026 ¥74bn

CAGR · 10 yrs +7.9%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	37.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	42.8	+15.5%	Cons. · Japanese GAAP
FYE Mar 2019	44.5	+3.9%	Cons. · Japanese GAAP
FYE Mar 2020	41.8	−5.9%	Cons. · Japanese GAAP
FYE Mar 2021	49.7	+18.9%	Cons. · Japanese GAAP
FYE Mar 2022	63.8	+28.3%	Cons. · Japanese GAAP
FYE Mar 2023	68.2	+6.9%	Cons. · Japanese GAAP
FYE Mar 2024	72.8	+6.6%	Cons. · Japanese GAAP
FYE Mar 2025	71.7	−1.4%	Cons. · Japanese GAAP
FYE Mar 2026	73.7	+2.8%	Cons. · Japanese GAAP

Definition: What the core business earns
Formula: Gross profit − SG&A
Source: Securities report (XBRL)

Non-operating income

FYE Mar 2026 ¥11bn

CAGR · 10 yrs +22.5%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	1.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.9	+5.4%	Cons. · Japanese GAAP
FYE Mar 2019	2.4	+25.9%	Cons. · Japanese GAAP
FYE Mar 2020	3.2	+33.9%	Cons. · Japanese GAAP
FYE Mar 2021	2.4	−24.5%	Cons. · Japanese GAAP
FYE Mar 2022	3.7	+50.9%	Cons. · Japanese GAAP
FYE Mar 2023	3.6	−0.7%	Cons. · Japanese GAAP
FYE Mar 2024	5.7	+55.3%	Cons. · Japanese GAAP
FYE Mar 2025	3.5	−37.4%	Cons. · Japanese GAAP
FYE Mar 2026	11.3	+217.7%	Cons. · Japanese GAAP

Definition: Income from outside the core business
Formula: Non-operating income line of the income statement
Source: Securities report (XBRL)

Non-operating expenses

FYE Mar 2026 ¥2.2bn

CAGR · 10 yrs +1.9%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	1.9	n/a	Cons. · Japanese GAAP
FYE Mar 2018	2.9	+53.6%	Cons. · Japanese GAAP
FYE Mar 2019	1.4	−50.3%	Cons. · Japanese GAAP
FYE Mar 2020	2.4	+68.4%	Cons. · Japanese GAAP
FYE Mar 2021	3.8	+58.5%	Cons. · Japanese GAAP
FYE Mar 2022	1.9	−50.1%	Cons. · Japanese GAAP
FYE Mar 2023	1.0	−48.4%	Cons. · Japanese GAAP
FYE Mar 2024	1.5	+54.6%	Cons. · Japanese GAAP
FYE Mar 2025	3.2	+114.6%	Cons. · Japanese GAAP
FYE Mar 2026	2.2	−32.1%	Cons. · Japanese GAAP

Definition: Costs arising outside the core business
Formula: Non-operating expenses line of the income statement
Source: Securities report (XBRL)

Ordinary profit keijo rieki

FYE Mar 2026 ¥83bn

CAGR · 10 yrs +9.3%

Fiscal year	Ordinary profit ¥ bn	YoY	Basis
FYE Mar 2017	37.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	41.9	+13.0%	Cons. · Japanese GAAP
FYE Mar 2019	45.5	+8.6%	Cons. · Japanese GAAP
FYE Mar 2020	42.7	−6.1%	Cons. · Japanese GAAP
FYE Mar 2021	48.4	+13.4%	Cons. · Japanese GAAP
FYE Mar 2022	65.6	+35.6%	Cons. · Japanese GAAP
FYE Mar 2023	70.9	+8.1%	Cons. · Japanese GAAP
FYE Mar 2024	76.9	+8.5%	Cons. · Japanese GAAP
FYE Mar 2025	72.0	−6.3%	Cons. · Japanese GAAP
FYE Mar 2026	82.8	+14.9%	Cons. · Japanese GAAP

Definition: A level of profit that exists only under Japanese GAAP
Formula: Operating profit + non-operating income − non-operating expenses
Source: Securities report (XBRL)

Extraordinary income

FYE Mar 2026 ¥0.3bn

CAGR · 10 yrs +26.9%

Fiscal year	Extraordinary income ¥ bn	YoY	Basis
FYE Mar 2017	0.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.2	+390.6%	Cons. · Japanese GAAP
FYE Mar 2019	0.2	+49.0%	Cons. · Japanese GAAP
FYE Mar 2020	0.6	+174.4%	Cons. · Japanese GAAP
FYE Mar 2021	1.9	+191.9%	Cons. · Japanese GAAP
FYE Mar 2022	1.1	−39.5%	Cons. · Japanese GAAP
FYE Mar 2023	1.1	−4.4%	Cons. · Japanese GAAP
FYE Mar 2024	0.5	−57.8%	Cons. · Japanese GAAP
FYE Mar 2025	1.6	+249.5%	Cons. · Japanese GAAP
FYE Mar 2026	0.3	−82.8%	Cons. · Japanese GAAP

Definition: One-off gains, such as an asset sale
Formula: Extraordinary income line of the income statement
Source: Securities report (XBRL)

Extraordinary loss

FYE Mar 2026 ¥1.6bn

CAGR · 6 yrs +44.0%

Fiscal year	Extraordinary loss ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.3	n/a	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	0.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2022	0.8	n/a	Cons. · Japanese GAAP
FYE Mar 2023	1.1	+48.5%	Cons. · Japanese GAAP
FYE Mar 2024	0.4	−65.9%	Cons. · Japanese GAAP
FYE Mar 2025	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2026	1.6	n/a	Cons. · Japanese GAAP

Definition: One-off losses, such as an impairment or a restructuring charge
Formula: Extraordinary loss line of the income statement
Source: Securities report (XBRL)

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥60bn

CAGR · 10 yrs +9.6%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	26.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	29.8	+12.7%	Cons. · Japanese GAAP
FYE Mar 2019	32.5	+9.0%	Cons. · Japanese GAAP
FYE Mar 2020	31.8	−2.3%	Cons. · Japanese GAAP
FYE Mar 2021	36.1	+13.6%	Cons. · Japanese GAAP
FYE Mar 2022	47.3	+31.0%	Cons. · Japanese GAAP
FYE Mar 2023	52.0	+10.1%	Cons. · Japanese GAAP
FYE Mar 2024	57.0	+9.6%	Cons. · Japanese GAAP
FYE Mar 2025	53.8	−5.7%	Cons. · Japanese GAAP
FYE Mar 2026	60.5	+12.5%	Cons. · Japanese GAAP

Definition: What is left after tax
Formula: Pre-tax profit − income taxes
Source: Securities report (XBRL)

Gross margin

FYE Mar 2026 44.6%

Average · 10 yrs 41.4%

Fiscal year	Gross margin %	YoY	Basis
FYE Mar 2017	39.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	39.8	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	40.2	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	39.5	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	39.7	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	41.7	+2.0pp	Cons. · Japanese GAAP
FYE Mar 2023	41.7	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	43.1	+1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	43.5	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2026	44.6	+1.1pp	Cons. · Japanese GAAP

Definition: The share of revenue left after the cost of sales
Formula: Gross profit ÷ revenue
Source: Securities report (XBRL)

Operating margin

FYE Mar 2026 13.1%

Average · 10 yrs 12.7%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	10.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.4	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2019	11.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2020	10.9	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2021	12.6	+1.8pp	Cons. · Japanese GAAP
FYE Mar 2022	14.9	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2023	14.1	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2024	14.2	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	13.3	−0.9pp	Cons. · Japanese GAAP
FYE Mar 2026	13.1	−0.2pp	Cons. · Japanese GAAP

Definition: The share of revenue the core business keeps
Formula: Operating profit ÷ revenue
Source: Securities report (XBRL)

Ordinary margin

FYE Mar 2026 14.8%

Average · 10 yrs 13.0%

Fiscal year	Ordinary margin %	YoY	Basis
FYE Mar 2017	10.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2019	11.6	+0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	11.1	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	12.3	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2022	15.3	+3.0pp	Cons. · Japanese GAAP
FYE Mar 2023	14.7	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2024	15.0	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	13.4	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2026	14.8	+1.4pp	Cons. · Japanese GAAP

Definition: The share of revenue left at the ordinary-profit line
Formula: Ordinary profit ÷ revenue
Source: Securities report (XBRL)

Net margin

FYE Mar 2026 10.8%

Average · 10 yrs 9.5%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	7.7	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.9	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	8.3	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	8.2	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	9.2	+0.9pp	Cons. · Japanese GAAP
FYE Mar 2022	11.0	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2023	10.8	−0.3pp	Cons. · Japanese GAAP
FYE Mar 2024	11.1	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2025	10.0	−1.2pp	Cons. · Japanese GAAP
FYE Mar 2026	10.8	+0.8pp	Cons. · Japanese GAAP

Definition: The share of revenue left after everything
Formula: Net profit ÷ revenue
Source: Securities report (XBRL)

Cost-of-sales ratio

FYE Mar 2026 55.4%

Average · 10 yrs 58.6%

Fiscal year	Cost-of-sales ratio %	YoY	Basis
FYE Mar 2017	60.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	60.2	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2019	59.8	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	60.5	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2021	60.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2022	58.3	−2.0pp	Cons. · Japanese GAAP
FYE Mar 2023	58.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	56.9	−1.5pp	Cons. · Japanese GAAP
FYE Mar 2025	56.5	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2026	55.4	−1.1pp	Cons. · Japanese GAAP

Definition: The share of revenue taken by the cost of sales
Formula: Cost of sales ÷ revenue
Source: Securities report (XBRL)

SG&A ratio

FYE Mar 2026 31.5%

Average · 10 yrs 28.7%

Fiscal year	SG&A ratio %	YoY	Basis
FYE Mar 2017	29.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	28.4	−0.6pp	Cons. · Japanese GAAP
FYE Mar 2019	28.8	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2020	28.7	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2021	27.1	−1.6pp	Cons. · Japanese GAAP
FYE Mar 2022	26.8	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2023	27.5	+0.7pp	Cons. · Japanese GAAP
FYE Mar 2024	28.9	+1.4pp	Cons. · Japanese GAAP
FYE Mar 2025	30.2	+1.3pp	Cons. · Japanese GAAP
FYE Mar 2026	31.5	+1.3pp	Cons. · Japanese GAAP

Definition: The share of revenue taken by selling and administrative costs
Formula: SG&A ÷ revenue
Source: Securities report (XBRL)

Balance sheet Assets, debt and equity, and what they say about financial strength

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Mar 2026 ¥738bn

CAGR · 10 yrs +7.8%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	375	n/a	Cons. · Japanese GAAP
FYE Mar 2018	419	+11.6%	Cons. · Japanese GAAP
FYE Mar 2019	437	+4.5%	Cons. · Japanese GAAP
FYE Mar 2020	438	+0.1%	Cons. · Japanese GAAP
FYE Mar 2021	497	+13.7%	Cons. · Japanese GAAP
FYE Mar 2022	561	+12.7%	Cons. · Japanese GAAP
FYE Mar 2023	619	+10.4%	Cons. · Japanese GAAP
FYE Mar 2024	674	+8.9%	Cons. · Japanese GAAP
FYE Mar 2025	672	−0.3%	Cons. · Japanese GAAP
FYE Mar 2026	738	+9.8%	Cons. · Japanese GAAP

Definition: Everything the company holds
Formula: Total assets line of the balance sheet
Source: Securities report (XBRL)

Equity net assets, shareholders' equity

FYE Mar 2026 ¥565bn

CAGR · 10 yrs +9.9%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	241	n/a	Cons. · Japanese GAAP
FYE Mar 2018	268	+10.9%	Cons. · Japanese GAAP
FYE Mar 2019	288	+7.5%	Cons. · Japanese GAAP
FYE Mar 2020	303	+5.2%	Cons. · Japanese GAAP
FYE Mar 2021	336	+10.8%	Cons. · Japanese GAAP
FYE Mar 2022	381	+13.6%	Cons. · Japanese GAAP
FYE Mar 2023	423	+11.1%	Cons. · Japanese GAAP
FYE Mar 2024	492	+16.3%	Cons. · Japanese GAAP
FYE Mar 2025	498	+1.2%	Cons. · Japanese GAAP
FYE Mar 2026	565	+13.5%	Cons. · Japanese GAAP

Definition: The part of the funding that never has to be repaid
Formula: Net assets line of the balance sheet
Source: Securities report (XBRL)

Interest-bearing debt

FYE Mar 2026 ¥0.0bn

Average · 10 yrs ¥2.0bn

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	3.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.6	+0.7%	Cons. · Japanese GAAP
FYE Mar 2019	2.5	−30.2%	Cons. · Japanese GAAP
FYE Mar 2020	2.1	−16.8%	Cons. · Japanese GAAP
FYE Mar 2021	1.7	−17.4%	Cons. · Japanese GAAP
FYE Mar 2022	1.7	−2.0%	Cons. · Japanese GAAP
FYE Mar 2023	1.5	−10.4%	Cons. · Japanese GAAP
FYE Mar 2024	1.6	+5.6%	Cons. · Japanese GAAP
FYE Mar 2025	1.4	−15.2%	Cons. · Japanese GAAP
FYE Mar 2026	0.0	−100.0%	Cons. · Japanese GAAP

Definition: Borrowings the company pays interest on
Formula: Loans + bonds + lease obligations
Source: Securities report (XBRL)

Short-term borrowings

FYE Mar 2026 n/a

CAGR · 9 yrs −9.2%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	3.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	3.1	+5.8%	Cons. · Japanese GAAP
FYE Mar 2019	2.3	−27.0%	Cons. · Japanese GAAP
FYE Mar 2020	2.1	−9.1%	Cons. · Japanese GAAP
FYE Mar 2021	1.5	−29.7%	Cons. · Japanese GAAP
FYE Mar 2022	1.5	+2.9%	Cons. · Japanese GAAP
FYE Mar 2023	1.4	−6.9%	Cons. · Japanese GAAP
FYE Mar 2024	1.6	+10.9%	Cons. · Japanese GAAP
FYE Mar 2025	1.4	−11.9%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

Definition: Borrowings repayable within a year
Formula: Short-term borrowings line of the balance sheet
Source: Securities report (XBRL)

Long-term borrowings

FYE Mar 2026 n/a

CAGR · 9 yrs −47.1%

Fiscal year	Long-term borrowings ¥ m	YoY	Basis
FYE Mar 2017	648	n/a	Cons. · Japanese GAAP
FYE Mar 2018	501	−22.7%	Cons. · Japanese GAAP
FYE Mar 2019	247	−50.7%	Cons. · Japanese GAAP
FYE Mar 2020	30.0	−87.9%	Cons. · Japanese GAAP
FYE Mar 2021	281	+836.7%	Cons. · Japanese GAAP
FYE Mar 2022	205	−27.0%	Cons. · Japanese GAAP
FYE Mar 2023	132	−35.6%	Cons. · Japanese GAAP
FYE Mar 2024	66.0	−50.0%	Cons. · Japanese GAAP
FYE Mar 2025	4.0	−93.9%	Cons. · Japanese GAAP
FYE Mar 2026	n/a	n/a	Cons. · Japanese GAAP

Definition: Borrowings repayable in more than a year
Formula: Long-term borrowings line of the balance sheet
Source: Securities report (XBRL)

Intangible assets

FYE Mar 2026 ¥24bn

CAGR · 10 yrs +12.3%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	8.4	n/a	Cons. · Japanese GAAP
FYE Mar 2018	9.2	+10.0%	Cons. · Japanese GAAP
FYE Mar 2019	10.8	+17.3%	Cons. · Japanese GAAP
FYE Mar 2020	11.4	+5.6%	Cons. · Japanese GAAP
FYE Mar 2021	11.6	+1.5%	Cons. · Japanese GAAP
FYE Mar 2022	11.2	−4.0%	Cons. · Japanese GAAP
FYE Mar 2023	17.0	+52.1%	Cons. · Japanese GAAP
FYE Mar 2024	18.0	+6.2%	Cons. · Japanese GAAP
FYE Mar 2025	23.7	+31.8%	Cons. · Japanese GAAP
FYE Mar 2026	23.9	+0.6%	Cons. · Japanese GAAP

Definition: Assets with no physical form
Formula: Intangible assets line of the balance sheet
Source: Securities report (XBRL)

Goodwill

FYE Mar 2026 ¥7.4bn

CAGR · 5 yrs +34.1%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2018	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2019	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2020	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2021	n/a	n/a	Cons. · Japanese GAAP
FYE Mar 2022	2.3	n/a	Cons. · Japanese GAAP
FYE Mar 2023	4.9	+116.7%	Cons. · Japanese GAAP
FYE Mar 2024	5.2	+5.5%	Cons. · Japanese GAAP
FYE Mar 2025	7.8	+49.0%	Cons. · Japanese GAAP
FYE Mar 2026	7.4	−5.0%	Cons. · Japanese GAAP

Definition: What an acquisition cost above the net assets it brought
Formula: Goodwill line of the balance sheet
Source: Securities report (XBRL)

Equity ratio

FYE Mar 2026 76.6%

Average · 10 yrs 69.1%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	64.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	64.0	−0.4pp	Cons. · Japanese GAAP
FYE Mar 2019	65.9	+1.9pp	Cons. · Japanese GAAP
FYE Mar 2020	69.2	+3.3pp	Cons. · Japanese GAAP
FYE Mar 2021	67.4	−1.7pp	Cons. · Japanese GAAP
FYE Mar 2022	68.0	+0.6pp	Cons. · Japanese GAAP
FYE Mar 2023	68.4	+0.4pp	Cons. · Japanese GAAP
FYE Mar 2024	73.1	+4.6pp	Cons. · Japanese GAAP
FYE Mar 2025	74.1	+1.0pp	Cons. · Japanese GAAP
FYE Mar 2026	76.6	+2.5pp	Cons. · Japanese GAAP

Definition: How much of the balance sheet is funded without debt
Formula: Equity ÷ total assets
Source: Securities report (XBRL)

Debt-to-equity ratio D/E ratio

FYE Mar 2026 0.0%

Average · 10 yrs 0.6%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	1.5	n/a	Cons. · Japanese GAAP
FYE Mar 2018	1.4	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	0.9	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2020	0.7	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	0.5	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2022	0.4	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2023	0.4	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	0.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2025	0.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2026	0.0	−0.3pp	Cons. · Japanese GAAP

Definition: Borrowings measured against the company's own capital
Formula: Interest-bearing debt ÷ equity
Source: Securities report (XBRL)

ROE return on equity

FYE Mar 2026 10.7%

Average · 10 yrs 11.2%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	11.0	n/a	Cons. · Japanese GAAP
FYE Mar 2018	11.1	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2019	11.3	+0.2pp	Cons. · Japanese GAAP
FYE Mar 2020	10.5	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2021	10.8	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2022	12.4	+1.6pp	Cons. · Japanese GAAP
FYE Mar 2023	12.3	−0.1pp	Cons. · Japanese GAAP
FYE Mar 2024	11.6	−0.7pp	Cons. · Japanese GAAP
FYE Mar 2025	10.8	−0.8pp	Cons. · Japanese GAAP
FYE Mar 2026	10.7	−0.1pp	Cons. · Japanese GAAP

Definition: What the shareholders' capital earns
Formula: Net profit ÷ equity
Source: Securities report (XBRL)

ROA return on assets

FYE Mar 2026 8.2%

Average · 10 yrs 7.8%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	7.1	n/a	Cons. · Japanese GAAP
FYE Mar 2018	7.1	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2019	7.4	+0.3pp	Cons. · Japanese GAAP
FYE Mar 2020	7.3	−0.2pp	Cons. · Japanese GAAP
FYE Mar 2021	7.3	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2022	8.4	+1.2pp	Cons. · Japanese GAAP
FYE Mar 2023	8.4	−0.0pp	Cons. · Japanese GAAP
FYE Mar 2024	8.5	+0.1pp	Cons. · Japanese GAAP
FYE Mar 2025	8.0	−0.5pp	Cons. · Japanese GAAP
FYE Mar 2026	8.2	+0.2pp	Cons. · Japanese GAAP

Definition: What the whole balance sheet earns
Formula: Net profit ÷ total assets
Source: Securities report (XBRL)

Asset turnover

FYE Mar 2026 0.76×

CAGR · 10 yrs −2.0%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.91	n/a	Cons. · Japanese GAAP
FYE Mar 2018	0.90	−1.5%	Cons. · Japanese GAAP
FYE Mar 2019	0.89	−0.5%	Cons. · Japanese GAAP
FYE Mar 2020	0.88	−1.6%	Cons. · Japanese GAAP
FYE Mar 2021	0.79	−10.2%	Cons. · Japanese GAAP
FYE Mar 2022	0.76	−3.4%	Cons. · Japanese GAAP
FYE Mar 2023	0.78	+2.0%	Cons. · Japanese GAAP
FYE Mar 2024	0.76	−2.5%	Cons. · Japanese GAAP
FYE Mar 2025	0.80	+5.6%	Cons. · Japanese GAAP
FYE Mar 2026	0.76	−5.3%	Cons. · Japanese GAAP

Definition: How much revenue each yen of assets produces
Formula: Revenue ÷ total assets
Source: Securities report (XBRL)

Cash flow statement Cash from operations, investment and financing, and what is left on hand

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥55bn

CAGR · 10 yrs +7.1%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	29.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	41.2	+39.2%	Cons. · Japanese GAAP
FYE Mar 2019	29.5	−28.5%	Cons. · Japanese GAAP
FYE Mar 2020	39.5	+34.1%	Cons. · Japanese GAAP
FYE Mar 2021	63.8	+61.5%	Cons. · Japanese GAAP
FYE Mar 2022	63.4	−0.7%	Cons. · Japanese GAAP
FYE Mar 2023	48.3	−23.8%	Cons. · Japanese GAAP
FYE Mar 2024	30.1	−37.6%	Cons. · Japanese GAAP
FYE Mar 2025	52.0	+72.6%	Cons. · Japanese GAAP
FYE Mar 2026	54.7	+5.1%	Cons. · Japanese GAAP

Definition: Cash the business itself generated
Formula: Cash flow from operating activities
Source: Securities report (XBRL)

Investing cash flow

FYE Mar 2026 -¥16bn

Average · 10 yrs -¥17bn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-12.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-11.1	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-22.9	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-16.1	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-13.9	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-6.0	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-34.5	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-16.0	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-23.2	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-15.9	n/a	Cons. · Japanese GAAP

Definition: Cash spent on, or released by, investment
Formula: Cash flow from investing activities
Source: Securities report (XBRL)

Financing cash flow

FYE Mar 2026 -¥26bn

Average · 10 yrs -¥20bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-7.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	-7.9	n/a	Cons. · Japanese GAAP
FYE Mar 2019	-10.8	n/a	Cons. · Japanese GAAP
FYE Mar 2020	-26.2	n/a	Cons. · Japanese GAAP
FYE Mar 2021	-13.0	n/a	Cons. · Japanese GAAP
FYE Mar 2022	-15.7	n/a	Cons. · Japanese GAAP
FYE Mar 2023	-19.4	n/a	Cons. · Japanese GAAP
FYE Mar 2024	-21.1	n/a	Cons. · Japanese GAAP
FYE Mar 2025	-48.4	n/a	Cons. · Japanese GAAP
FYE Mar 2026	-25.5	n/a	Cons. · Japanese GAAP

Definition: Cash raised from, or returned to, lenders and shareholders
Formula: Cash flow from financing activities
Source: Securities report (XBRL)

Cash and equivalents

FYE Mar 2026 ¥161bn

CAGR · 10 yrs +13.2%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	52.8	n/a	Cons. · Japanese GAAP
FYE Mar 2018	75.1	+42.3%	Cons. · Japanese GAAP
FYE Mar 2019	70.8	−5.7%	Cons. · Japanese GAAP
FYE Mar 2020	66.7	−5.9%	Cons. · Japanese GAAP
FYE Mar 2021	107	+60.2%	Cons. · Japanese GAAP
FYE Mar 2022	155	+45.4%	Cons. · Japanese GAAP
FYE Mar 2023	154	−1.0%	Cons. · Japanese GAAP
FYE Mar 2024	159	+3.6%	Cons. · Japanese GAAP
FYE Mar 2025	137	−13.8%	Cons. · Japanese GAAP
FYE Mar 2026	161	+17.2%	Cons. · Japanese GAAP

Definition: Cash on hand at the year end
Formula: Closing balance in the cash flow statement
Source: Securities report (XBRL)

Free cash flow

FYE Mar 2026 ¥39bn

CAGR · 10 yrs +9.4%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	17.3	n/a	Cons. · Japanese GAAP
FYE Mar 2018	30.1	+74.2%	Cons. · Japanese GAAP
FYE Mar 2019	6.6	−78.2%	Cons. · Japanese GAAP
FYE Mar 2020	23.4	+257.6%	Cons. · Japanese GAAP
FYE Mar 2021	49.9	+113.0%	Cons. · Japanese GAAP
FYE Mar 2022	57.3	+14.8%	Cons. · Japanese GAAP
FYE Mar 2023	13.8	−75.9%	Cons. · Japanese GAAP
FYE Mar 2024	14.1	+2.4%	Cons. · Japanese GAAP
FYE Mar 2025	28.8	+104.0%	Cons. · Japanese GAAP
FYE Mar 2026	38.8	+34.5%	Cons. · Japanese GAAP

Definition: What is left once the business has paid for its own investment
Formula: Operating cash flow + investing cash flow
Source: Securities report (XBRL)

Operating cash flow margin

FYE Mar 2026 9.8%

Average · 10 yrs 10.4%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	8.6	n/a	Cons. · Japanese GAAP
FYE Mar 2018	10.9	+2.3pp	Cons. · Japanese GAAP
FYE Mar 2019	7.5	−3.4pp	Cons. · Japanese GAAP
FYE Mar 2020	10.3	+2.7pp	Cons. · Japanese GAAP
FYE Mar 2021	16.2	+6.0pp	Cons. · Japanese GAAP
FYE Mar 2022	14.8	−1.4pp	Cons. · Japanese GAAP
FYE Mar 2023	10.0	−4.8pp	Cons. · Japanese GAAP
FYE Mar 2024	5.9	−4.1pp	Cons. · Japanese GAAP
FYE Mar 2025	9.6	+3.8pp	Cons. · Japanese GAAP
FYE Mar 2026	9.8	+0.1pp	Cons. · Japanese GAAP

Definition: How much of the revenue turned into cash
Formula: Operating cash flow ÷ revenue
Source: Securities report (XBRL)

Net cash

FYE Mar 2026 ¥161bn

CAGR · 10 yrs +14.1%

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	49.2	n/a	Cons. · Japanese GAAP
FYE Mar 2018	71.5	+45.4%	Cons. · Japanese GAAP
FYE Mar 2019	68.3	−4.4%	Cons. · Japanese GAAP
FYE Mar 2020	64.6	−5.5%	Cons. · Japanese GAAP
FYE Mar 2021	105	+62.8%	Cons. · Japanese GAAP
FYE Mar 2022	154	+46.1%	Cons. · Japanese GAAP
FYE Mar 2023	152	−0.9%	Cons. · Japanese GAAP
FYE Mar 2024	158	+3.6%	Cons. · Japanese GAAP
FYE Mar 2025	136	−13.8%	Cons. · Japanese GAAP
FYE Mar 2026	161	+18.4%	Cons. · Japanese GAAP

Definition: Cash on hand once the borrowings are paid off
Formula: Cash and equivalents − interest-bearing debt
Source: Securities report (XBRL)

Shares and share price Shares outstanding, price, market capitalisation and the valuation multiples

Market capitalisation

FYE Mar 2026 ¥1.09tn

Change · 10 yrs +¥567bn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	524	n/a
FYE Mar 2018	884	n/a
FYE Mar 2019	948	n/a
FYE Mar 2020	843	n/a
FYE Mar 2021	1,186	n/a
FYE Mar 2022	1,254	n/a
FYE Mar 2023	1,224	n/a
FYE Mar 2024	1,255	n/a
FYE Mar 2025	1,103	n/a
FYE Mar 2026	1,091	n/a

Definition: What the market says the company is worth
Formula: Year-end share price × shares outstanding
Source: Securities report (XBRL)

Share price year-end close

FYE Mar 2026 3,685¥

Change · 10 yrs +1,916¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	1,769	n/a
FYE Mar 2018	2,987	n/a
FYE Mar 2019	3,202	n/a
FYE Mar 2020	2,847	n/a
FYE Mar 2021	4,006	n/a
FYE Mar 2022	4,237	n/a
FYE Mar 2023	4,133	n/a
FYE Mar 2024	4,239	n/a
FYE Mar 2025	3,726	n/a
FYE Mar 2026	3,685	n/a

Definition: The closing price on the last day of the fiscal year
Formula: Year-end closing price
Source: Securities report (XBRL)

Shares outstanding

FYE Mar 2026 296,070,000shares

Change · 10 yrs −0 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	296,070,000	Parent
FYE Mar 2018	296,070,000	Parent
FYE Mar 2019	296,070,000	Parent
FYE Mar 2020	296,070,000	Parent
FYE Mar 2021	296,070,000	Parent
FYE Mar 2022	296,070,000	Parent
FYE Mar 2023	296,070,000	Parent
FYE Mar 2024	296,070,000	Parent
FYE Mar 2025	296,070,000	Parent
FYE Mar 2026	296,070,000	Parent

Definition: How many shares exist
Formula: Shares issued, from the key figures of the filing
Source: Securities report (XBRL)

EPS earnings per share

FYE Mar 2026 209.39¥

Change · 10 yrs +119.60¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	89.79	Cons.
FYE Mar 2018	101.26	Cons.
FYE Mar 2019	110.41	Cons.
FYE Mar 2020	107.84	Cons.
FYE Mar 2021	122.52	Cons.
FYE Mar 2022	160.49	Cons.
FYE Mar 2023	176.64	Cons.
FYE Mar 2024	193.54	Cons.
FYE Mar 2025	183.55	Cons.
FYE Mar 2026	209.39	Cons.

Definition: Net profit for each share
Formula: Net profit ÷ average shares outstanding
Source: Securities report (XBRL)

BPS book value per share

FYE Mar 2026 1,908.86¥

Change · 10 yrs +1,093.74¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	815.12	Cons. · Japanese GAAP
FYE Mar 2018	904.16	Cons. · Japanese GAAP
FYE Mar 2019	972.38	Cons. · Japanese GAAP
FYE Mar 2020	1,022.65	Cons. · Japanese GAAP
FYE Mar 2021	1,133.19	Cons. · Japanese GAAP
FYE Mar 2022	1,287.41	Cons. · Japanese GAAP
FYE Mar 2023	1,430.40	Cons. · Japanese GAAP
FYE Mar 2024	1,662.89	Cons. · Japanese GAAP
FYE Mar 2025	1,682.23	Cons. · Japanese GAAP
FYE Mar 2026	1,908.86	Cons. · Japanese GAAP

Definition: Equity behind each share
Formula: Equity ÷ shares outstanding
Source: Securities report (XBRL)

PER price-to-earnings ratio

FYE Mar 2026 17.60×

Average · 10 yrs 24.69×

Fiscal year	PER ×	Basis
FYE Mar 2017	19.70	Cons.
FYE Mar 2018	29.50	Cons.
FYE Mar 2019	29.00	Cons.
FYE Mar 2020	26.40	Cons.
FYE Mar 2021	32.70	Cons.
FYE Mar 2022	26.40	Cons.
FYE Mar 2023	23.40	Cons.
FYE Mar 2024	21.90	Cons.
FYE Mar 2025	20.30	Cons.
FYE Mar 2026	17.60	Cons.

Definition: How many years of earnings the price stands for
Formula: Year-end price ÷ EPS
Source: Securities report (XBRL)

PBR price-to-book ratio

FYE Mar 2026 1.88×

Average · 10 yrs 2.78×

Fiscal year	PBR ×	Basis
FYE Mar 2017	2.16	Cons.
FYE Mar 2018	3.29	Cons.
FYE Mar 2019	3.28	Cons.
FYE Mar 2020	2.77	Cons.
FYE Mar 2021	3.52	Cons.
FYE Mar 2022	3.28	Cons.
FYE Mar 2023	2.88	Cons.
FYE Mar 2024	2.54	Cons.
FYE Mar 2025	2.16	Cons.
FYE Mar 2026	1.88	Cons.

Definition: The price measured against the book value behind it
Formula: Year-end price ÷ BPS
Source: Securities report (XBRL)

Workforce and productivity Headcount, pay and what each employee accounts for

Group employees

FYE Mar 2026 14,649people

Change · 10 yrs +3,121 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	11,528	n/a	Cons.
FYE Mar 2018	11,954	+3.7%	Cons.
FYE Mar 2019	12,684	+6.1%	Cons.
FYE Mar 2020	13,182	+3.9%	Cons.
FYE Mar 2021	13,308	+1.0%	Cons.
FYE Mar 2022	13,499	+1.4%	Cons.
FYE Mar 2023	13,898	+3.0%	Cons.
FYE Mar 2024	14,219	+2.3%	Cons.
FYE Mar 2025	14,481	+1.8%	Cons.
FYE Mar 2026	14,649	+1.2%	Cons.

Definition: Everyone employed across the group
Formula: Consolidated headcount, from the employee section of the filing
Source: Securities report (XBRL)

Parent-company employees

FYE Mar 2026 3,779people

Change · 10 yrs +577 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	3,202	n/a	Parent
FYE Mar 2018	3,279	+2.4%	Parent
FYE Mar 2019	3,378	+3.0%	Parent
FYE Mar 2020	3,456	+2.3%	Parent
FYE Mar 2021	3,492	+1.0%	Parent
FYE Mar 2022	3,491	−0.0%	Parent
FYE Mar 2023	3,541	+1.4%	Parent
FYE Mar 2024	3,587	+1.3%	Parent
FYE Mar 2025	3,687	+2.8%	Parent
FYE Mar 2026	3,779	+2.5%	Parent

Definition: Employees of the filing company itself
Formula: Parent-only headcount, from the employee section of the filing
Source: Securities report (XBRL)

Average annual pay parent company

FYE Mar 2026 ¥9.2m

Change · 8 yrs +¥1.0m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	8.2	n/a	Parent
FYE Mar 2020	8.2	−0.6%	Parent
FYE Mar 2021	8.0	−1.7%	Parent
FYE Mar 2022	8.4	+4.8%	Parent
FYE Mar 2023	8.6	+2.2%	Parent
FYE Mar 2024	8.9	+3.9%	Parent
FYE Mar 2025	9.0	+1.0%	Parent
FYE Mar 2026	9.2	+2.5%	Parent

Definition: Average total annual compensation, bonuses included
Formula: Average annual pay, from the employee section of the filing
Source: Securities report (XBRL)

Average age

FYE Mar 2026 43.9years

Change · 8 yrs +0.9 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	43.0	n/a	Parent
FYE Mar 2020	43.0	−0.0%	Parent
FYE Mar 2021	43.2	+0.5%	Parent
FYE Mar 2022	43.4	+0.5%	Parent
FYE Mar 2023	43.6	+0.5%	Parent
FYE Mar 2024	43.3	−0.7%	Parent
FYE Mar 2025	43.6	+0.7%	Parent
FYE Mar 2026	43.9	+0.7%	Parent

Definition: Average age of the parent company's employees
Formula: Average age, from the employee section of the filing
Source: Securities report (XBRL)

Average length of service

FYE Mar 2026 18.5years

Change · 8 yrs +0.4 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	18.1	n/a	Parent
FYE Mar 2020	18.1	−0.0%	Parent
FYE Mar 2021	18.2	+0.6%	Parent
FYE Mar 2022	18.3	+0.5%	Parent
FYE Mar 2023	18.4	+0.5%	Parent
FYE Mar 2024	18.0	−2.2%	Parent
FYE Mar 2025	18.1	+0.6%	Parent
FYE Mar 2026	18.5	+2.2%	Parent

Definition: How long the average employee has been with the company
Formula: Average years of service, from the employee section of the filing
Source: Securities report (XBRL)

Temporary employees

FYE Mar 2026 1,585people

Change · 10 yrs +183 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	1,402	n/a	n/a
FYE Mar 2018	1,473	+5.1%	n/a
FYE Mar 2019	1,462	−0.7%	n/a
FYE Mar 2020	1,352	−7.5%	n/a
FYE Mar 2021	1,286	−4.9%	n/a
FYE Mar 2022	1,276	−0.8%	n/a
FYE Mar 2023	1,386	+8.6%	n/a
FYE Mar 2024	1,596	+15.2%	n/a
FYE Mar 2025	1,678	+5.1%	n/a
FYE Mar 2026	1,585	−5.5%	n/a

Definition: Average number of temporary and part-time staff over the year
Formula: Average temporary headcount, from the employee section of the filing
Source: Securities report (XBRL)

Revenue per employee

FYE Mar 2026 ¥38.3m

Change · 10 yrs +¥8.6m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	29.7	n/a	Cons.
FYE Mar 2018	31.5	+6.0%	Cons.
FYE Mar 2019	30.8	−2.1%	Cons.
FYE Mar 2020	29.2	−5.2%	Cons.
FYE Mar 2021	29.6	+1.1%	Cons.
FYE Mar 2022	31.7	+7.3%	Cons.
FYE Mar 2023	34.7	+9.4%	Cons.
FYE Mar 2024	36.0	+3.8%	Cons.
FYE Mar 2025	37.2	+3.4%	Cons.
FYE Mar 2026	38.3	+2.8%	Cons.

Definition: What each employee accounts for in revenue
Formula: Revenue ÷ group employees
Source: Securities report (XBRL)

Operating profit per employee

FYE Mar 2026 ¥5.0m

Change · 10 yrs +¥1.8m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	3.2	n/a	Cons.
FYE Mar 2018	3.6	+11.3%	Cons.
FYE Mar 2019	3.5	−2.1%	Cons.
FYE Mar 2020	3.2	−9.5%	Cons.
FYE Mar 2021	3.7	+17.7%	Cons.
FYE Mar 2022	4.7	+26.5%	Cons.
FYE Mar 2023	4.9	+3.8%	Cons.
FYE Mar 2024	5.1	+4.2%	Cons.
FYE Mar 2025	5.0	−3.2%	Cons.
FYE Mar 2026	5.0	+1.6%	Cons.

Definition: What each employee accounts for in operating profit
Formula: Operating profit ÷ group employees
Source: Securities report (XBRL)

Disclaimer

Figures are reproduced as filed and are not restated: a change of accounting standard or of consolidation basis moves the series without anything happening to the business. Where that happened, the table says so in place of the year-on-year figure.
Ratios and per-employee figures are computed from the filed lines rather than taken from the filing, and use year-end balances rather than averages.

Accuracy, liability, reuse and privacy — the full disclaimer →

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